BRIEF-Alteo says incorporation of new entity to act as holding company, namely Alteo Group Ltd

Reuters Staff

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Oct 6 (Reuters) - ALTEO LTD:

* APPROVED RESTRUCTURING, INVOLVING THE INCORPORATION OF NEW LEGAL ENTITY TO ACT AS THE HOLDING COMPANY, NAMELY ALTEO GROUP LTD

* APPROVED SCHEME OF ARRANGEMENT PURSUANT TO WHICH SHARES OF ALTEO WILL BE EXCHANGED FOR SHARES IN ALTEO GROUP ON BASIS OF SHARE EXCHANGE RATIO OF 1:1

* SUBJECT TO SCHEME BECOMING EFFECTIVE, SHARES OF ALTEO WILL BE DELISTED AND THOSE OF ALTEO GROUP WILL BE LISTED ON OFFICIAL MARKET OF STOCK EXCHANGE OF MAURITIUS LTD Source: bit.ly/2fW4FF6 Further company coverage: (Bangalore.newsroom@thomsonreuters.com)